INNOVATION NETWORK

Direct Subsidiaries

All shares of the Hellenic Republic Asset Development Fund (“HRADF”), the Public Properties Company S.A. (“ETAD”) and the Hellenic Financial Stability Fund (HFSF), have been transferred to the Hellenic Corporation of Assets and Participations. These are the direct subsidiaries of HCAP.

The mission of each of the direct subsidiaries can be summarized as follows:

01.

the Hellenic Republic Asset Development Fund SA (“HRADF”) manages part of the private property of the Greek State, in order to maximize its value and to attract direct investments through the implementation of the Asset Development Plan, as this is approved by Governmental Council for Economic Policy.

02.

the Public Properties Company S.A. (“ETAD”) manages and exploits a large and diverse real estate portfolio of the State throughout the Greek territory.

03.

the Hellenic Financial Stability Fund S.A. (“HFSF”) contributes to the maintenance of the stability of the Greek banking system. It is noted that for HFSF, HCAP has very limited powers, as the decisions for the accomplishment of its mission and purpose are made exclusively by the relevant bodies of HFSF.

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